Daily GK Update- 15th June, 2023

NATIONAL UPDATES:

 

1. India to host IIAS Annual Conference 2025 at Kochi, Kerala: India will host the 2025 International Institute of Administrative Sciences (IIAS) Annual Conference at Kochi, Kerala in February 2025. Theme: Next Generation Administrative Reforms – Empowering Citizens and Reaching the Last Mile The hosting decision has been conveyed to the IIAS's Council of Administration via video conference. IIAS was established in 1930; HQ: Brussels Aim: To elaborate the public administration solutions to the policy challenges of the day

 

2. India’s wholesale price inflation falls to -3.48% in May 2023: The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is (-) 3.48% (Provisional) for the month of May 2023, against (-) 0.92% recorded in April 2023. Reason: Fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum & natural gas, and chemical & chemical products The food index has declined to 1.59%, while fuel and power fell to 9.17%

Manufactured product prices fell 2.97% in May 2023

 

3. Minister Dharmendra Pradhan flags off Gabon’s first Agri-SEZ Project: Union Minister of Education, Dharmendra Pradhan has flagged off the first Agri- SEZ project of Gabon from New Delhi on June 14, 2023. This project will be implemented by the AOM group with Centurion University as the technical and knowledge partner. In the first phase 30 farmers and 20 B.Sc./M.Sc. Agri and B.Tech/M.Tech Engineering students from Gajapati district, Odisha will be traveling together as agri-technical and technical consultants for the agriculture SEZ.

 

4. Padma Awardees from Haryana to get Rs 10000 monthly: Haryana CM Manohar Lal Khattar has announced a monthly pension of ₹ 10,000 for the Padma awardees from the state. Besides the monthly pension, a free travel facility in the 'Volvo bus' service of the state government for Padma Shri, Padma Bhushan and Padma Vibhushan awardees from Haryana. The state government is also giving the benefit of health insurance up to ₹ 5 lakh to families with an annual income of up to ₹ 1.80 lakh.

 

5. Amit Shah unveils ₹8,000 crore schemes to strengthen disaster management: Union home minister Amit Shah has chaired a meeting with ministers of disaster management from the states and union territories to discuss disaster risk reduction and strengthen the country’s disaster management system. During the meeting, Shah announced three major schemes worth over ₹8,000 crore to bolster disaster management efforts across the nation. The first scheme, valued at ₹5,000 crore, aims to expand and modernize fire services in states. The project intends to enhance firefighting capabilities, upgrade equipment, and improve infrastructure to effectively respond to fire emergencies. The second scheme, with a budget of ₹2,500 crore, focuses on reducing the risk of urban flooding in seven of India’s most populous metros, including Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Ahmedabad, and Pune. The project aims to implement measures to mitigate the impact of flooding in urban areas, safeguarding lives and property. The third scheme, worth ₹825 crore, is the National Landslide Risk Mitigation Project. It aims to address the issue of landslides in 17 states and Union Territories by implementing measures to prevent and mitigate landslides, ensuring the safety of vulnerable communities.

 

6. Odisha celebrates ‘Raja’ agricultural festival: Odisha has celebrated the Raja festival, an agricultural festival. Raja festival is celebrated for three days. The first day of the festival is called ‘Pahili Raja’, the second day is called ‘Majhi Raja’ ‘Raja Sankranti’ or ‘Mithuna Sankranti’, the third day is ‘Bhudaha’ or ‘Basi Raja’ or ‘Sesha Raja’. Most of the festivals are connected to agriculture in one way or the other. So is the Raja festival. Odisha’s Raja festival is a unique one as mother earth is worshipped during this festival. Notably, ‘Pahili Raja’ falls on the last day of month ‘Jyestha’ and ‘Raja Sankranti’ on the first day of month ‘Asadha’, celebrating the beginning of the rainy season. As women are compared with mother earth, as the former menstruate, the latter too is believed to be undergoing her menstrual cycle during this festival.

This is why all agricultural activities like tilling and digging are suspended during this festival. Just like a menstruating woman, mother earth is allowed to take full rest without any tampering.

 

7. Sanjay Kumar appointed as Marketing Director of GAIL: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sanjay Kumar for the post of Director (Marketing) of GAIL (India) Limited. Kumar has been appointed to the post with effect from the date of taking over charge of the post till the date of his superannuation i.e. June 30, 2027, or until further orders, whichever is earlier. Presently, he is the Managing Director of Indraprastha Gas Limited (IGL), the largest CNG distribution company of India.

 

8. Uttam Lal takes over as Director (Personnel) NHPC Ltd: Uttam Lal has taken over as Director (Personnel) of NHPC Limited. Prior to his appointment at NHPC, Lal was serving as Chief General Manager (HR-CSR/R&R/LA) in NTPC Limited. Lal has over 35 years of vast and rich experience in the area of Personnel Management, Industrial Relations and Corporate Social Responsibility. Lal was recommended for the post of Director (Personnel) of NHPC Limited by the PESB panel in its selection meeting held on February 28.

 

9. Fourth warship of Indian Navy ‘Sanshodhak’ launched: The fourth Survey Vessel Large (SVL) of the Indian Navy, named ‘Sanshodhak’, was launched at Kattupalli, Chennai. The ship named ‘Sanshodhak’, meaning ‘Researcher’, signifies the primary role of the ship as a Survey Vessel. The launch of the fourth SVL reinforces our resolve in indigenous shipbuilding, as part of the government’s vision of ‘Make in India’ and Aatma Nirbhar Bharat. The project, being built by L&T/GRSE for Indian Navy was launched at Kattupalli, Chennai. The chief guest of the launch ceremony was Adhir Arora, Chief Hydrographer to the Government of India. SVL ships will replace the existing Sandhayak Class survey ships, with new-generation hydrographic equipment, to collect oceanographic data. The SVL ships are 110 m long, 16 m wide with a displacement of 3,400 tons. The hull of these ships is made from indigenously developed DMR 249-A steel manufactured by Steel Authority of India Limited.

 

INTERNATIONAL UPDATES:

 

1. UNGA adopts resolution to honour fallen peacekeepers, introduced by India: The UNGA has adopted a draft resolution to establish a memorial wall in the UN headquarters to honor fallen peacekeepers. Ruchira Kamboj (India’s Permanent Representative to the UN Ambassador) has introduced the draft resolution titled ‘Memorial wall for fallen United Nations peacekeepers.' The resolution was submitted by 18 countries including Bangladesh, Canada, China, Denmark, Egypt, France, India, Indonesia, Jordan, Nepal, Rwanda, and the US.

 

2. NTPC secures 433rd rank in Forbes 'The Global 2000'- List for 2023: According to the 2023 Forbes' -The Global 2000, India's largest power generation company, National Thermal Power Corporation Limited (NTPC) has climbed 52 positions to secure the 433rd rank in the list. In the 2022 ranking, the company was on 485th rank. The climb of 52 positions has demonstrated the NTPC's emergence as a strong force in the global market. 'The Global 2000' List recognizes the world's largest companies based on sales, profits, assets, and market value.

 

3. World Elder Abuse Awareness Day 2023: 15th June: World Elder Abuse Awareness Day is observed every year on June 15 to raise awareness about the abuse experienced by older adults. 2023 theme: Closing the Circle: Addressing Gender-Based Violence (GBV) in Older Age - Policy, Law and Evidence-based Responses In 2006, this day was started by the International Network for the Prevention of Elder Abuse (INPEA). In 2011, the United Nations adopted it as a designated day for the prevention of abuse of older people.

 

4. Tata Steel, Germany’s SMS Group join hands for decarbonisation project: Tata Steel Limited and Germany’s SMS group have signed an MoU to collaborate on the decarbonization of steel making process. Under this MoU, the companies shall undertake further technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology (developed by SMS group). The demonstration will be executed at ‘E’ Blast Furnace in Tata Steel’s Jamshedpur plant with an objective to reduce CO2 emission.

 

5. 15 June – World Elder Abuse Awareness Day: World Elder Abuse Awareness Day (WEAAD) is observed every year on June 15. Objective – To raise awareness about the abuse and neglect experienced by older adults Theme 2023 – Closing the Circle: Addressing Gender-Based Violence (GBV) in Older Age – Policy, Law and Evidence-based Responses This day aims to promote understanding of the importance of preventing elder abuse and supporting the rights and well-being of older people. World Elder Abuse Awareness Day (WEAAD) was officially recognized and established by the United Nations General Assembly on June 15, 2011 however, the history of raising awareness about elder abuse predates this specific observance.

6. 15 June – Global Wind Day: Global Wind Day is observed every year on 15 June. This special day serves as a reminder of the incredible potential and significance of wind power in addressing climate change and promoting sustainable energy solutions. The first Wind Day was organized in 2007 by European Wind Energy Association (EWEA). In 2009, the European Wind Energy Association (Wind Europe) and Global Wind Energy Council collaborated to make Wind Day a global event. The day acknowledges the power of the wind and raises awareness about its potential as a sustainable resource.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Russia’s Sberbank launches Indian rupee accounts for individuals: Russia’s dominant lender, Sberbank has launched Indian rupee accounts for individuals. Aim: To expand the range of foreign currencies available to reduce dependency on the U.S. dollar and euro Sberbank has more than 100 million retail clients and already offers deposits in China’s yuan and UAE dirhams. Rupee accounts would also be available to clients. Sberbank would also raise rates on dirham deposits by 100 basis points for a six-week period.

 

2. IRDAI nod for SBI MF to pick upto 10% in ICICI Lombard: IRDAI has given its approval to SBI Mutual Fund to acquire up to 10% of the total paid up equity share capital of ICICI Lombard General Insurance through market purchase. The approval of IRDAI is valid for a period of one year from the date of Irdai approval letter. This approval is subject to compliance with applicable provisions of IRDAI (Registration of Indian Insurance Companies) Regulations, 2022, Indian Insurance Companies (Foreign Investment) Rules, 2015

 

3. Microfinance loan portfolio up 22% to Rs 3.48 trillion in FY23: Microfinance loan portfolio increased by 22% to Rs 3.48 lakh crore during 2022-23. Gross loan portfolio stood at Rs 2.85 lakh crore as on March 31, 2022. Microfinance loan disbursals during FY 2022-23 improved by 23% to Rs 2,96,423 crores compared to Rs 2,39,433 crore in the previous financial year. About 7.17 crore loans were disbursed during FY 22-23 as against 6.30 crore in the previous year.

 

4. Education loans register 17% growth in FY23: According to RBI data, the outstanding portfolio under education loans grew 17% at ₹96,847 crore in the year 2022-23 as against ₹82,723 crore in the previous year. For the first time in five years, growth in education loans not only turned positive but also registered a 17% surge in the last financial year ended March, 2023. The NPA in education advances stood at 7.82% of a total outstanding portfolio of ₹80,000 crore at the end of the first quarter of FY23.

 

5. Reserve Bank of India (RBI) opens regional office in Nagaland: The Reserve Bank of India (RBI) has opened its sub-office in Kohima, Nagaland, expanding its presence in the northeastern region. RBI Deputy Governor Michael Debabrata Patra inaugurated the office. RBI now has a presence in Assam, Manipur, Meghalaya, Mizoram, Tripura, and Nagaland. With this move, RBI aims to expand its reach in the region and better serve the financial needs of the people. Additionally, the central bank has announced its intention to establish an office in Itanagar, further demonstrating its commitment to enhancing its operations in the North East. The sub-office in Kohima begins functioning with the following departments — Financial Inclusion and Development Department (FIDD), Consumer Education and Protection Cell (CEPC), Market Intelligence Cell and Human Resource Management Department (HRMD). The currency management for Nagaland will continue to be conducted by the RBI’s office in Guwahati.

The Reserve Bank’s office in Itanagar is expected to open shortly.

 

AWARDS AND HONOURS

 

1. RBI Governor Shaktikanta Das honoured with ‘Governor of the Year’ award: The Reserve Bank of India's Governor, Shaktikanta Das was honored with the title of ‘Governor of the Year 2023' by Central Banking in London. Reason: For his role in managing inflation and handling India's banking system during crises like the COVID pandemic and global turmoils He is the second RBI governor after Raghuram Rajan, who was honored with this title in 2015. While the National Bank of Ukraine was presented with the 2023 Central Bank of the Year.

 

2. Ramachandra Guha’s book wins Elizabeth Longford Prize 2023: Historian and writer Ramchandra Guha’s book Rebels Against the Raj: Western Fighters for India’s Freedom has won the Elizabeth Longford Prize for Historical Biography 2023. Guha has been awarded £5,000 (₹5 lakhs approximately) and a bound copy of Elizabeth Longford’s memoir, The Pebbled Shore. The Bengaluru-based historian’s book tells the story of seven foreigners — four British, Two American, and one Irish — who joined India’s freedom fight against British rule. The list of names includes Annie Besant, B.G. Horniman, Philip Spratt, Richard Ralph Keithahn, Samuel Stokes, Madeline Slade, and Catherine Mary Heilemann. The award was founded in 2003 by Flora Fraser and Peter Soros to commemorate British historian Elizabeth Longford. Every year it rewards exemplary works in historical biography. The prize is celebrating its 20th anniversary this year. The book has been published by Penguin Random House in India, William Collins in the U.K., and Alfred Knopf in the USA.